The Swedish beauty and fragrance brand Byredo, which is highly sought after by the literary and fragrance enthusiasts, only announced in March this year that they have appointed former Chanel makeup creative director Lucia Pica as the brand’s creative image and makeup collaboration partner. Less than 3 months later, the market was shocked by the news that Byredo has been acquired by the global beauty leader L’Oréal Group.
As beauty enthusiasts around the world eagerly anticipate the debut of Lucia Pica’s first collection with Byredo this fall, French fashion media has revealed that L’Oréal is in talks to acquire Byredo. The typically aloof and high-end Byredo will become a new member of the luxury fragrance brands under the beauty conglomerate, a development that is both surprising and exciting.
According to external estimates, the Byredo brand is valued at up to 1 billion euros, although the actual acquisition amount has not been publicly disclosed, but it is believed to be one of the high-value acquisition projects of L’Oréal Group in recent years. This time, L’Oréal targeted Byredo, not only to enhance the group’s market share in the high-end perfume market, but also to capitalize on Byredo’s recent popularity and high sales in the youth market.
Byredo was founded by brand founder Ben Gorham in Sweden in 2006. In just 16 years, it has become a favorite brand for the new generation of women with its Nordic lifestyle aesthetics and unique qualities. Whether it’s the iconic perfume Bal d’Afrique or the artistic makeup products, they are all masterpieces that can generate buzz and revenue in the beauty market. With an average annual revenue of up to 1.8 billion euros, Byredo is definitely a golden egg among emerging brands.
If the acquisition is successful, Byredo will become the first Nordic beauty and fragrance brand in the group. Will L’Oréal ultimately be able to successfully bring Byredo under its wing? What impact will the acquisition have on Byredo or the newly joined Lucia Pica? Let’s find out together!
